Fisker Hopes To Sell Remaining Ocean EVs For Just $14,000

EVs have historically struggled with depreciation, but Fisker’s Ocean is possibly the most depreciated new EV out there. Following the company’s bankruptcy, Fisker has found a buyer for its remaining inventory of unsold EVs. The company has petitioned the Delaware judge overseeing its Chapter 11 bankruptcy to sell the cars for around $14,000 each, reports TechCrunch.

There are some 3,231 units left lying around after the company went bust, all of which should be sold to a New York-based vehicle leasing company. It’s a massive hit for the company, which owes an estimated $1 billion to its various creditors. On top of this, the sale of the remaining 3,000 or so Ocean EVs might not be so straightforward.

Fisker reportedly wants to rush the sale through by July 12, given the oodles of money it owes various entities, saying that without the sale to the company, American Lease, it will “be unable to fund vital business expenses … necessary to effectuate an orderly liquidation.” Unsold Oceans have been recently seen collecting dust in a parking garage of a California business park, not far from Fisker HQ.

TechCrunch also reports legal concerns over the sale, with a US Trustee office attorney saying she was worried about how quickly Fisker was pushing through the sale of its inventory “given that the committee of unsecured creditors still don’t have legal representation.” Fisker’s various lenders are also fighting the sale, with one lawyer representing the lenders calling it a “terrible deal for [Fisker] and its creditors.” Even after the sale goes through, should the judge approve it, American Lease must wait until the Ocean’s various recalls are addressed before it can lease the vehicles out to its primary customers — rideshare drivers.

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